Magnetic nanostructures may exhibit novel magnetic phenomena that do not occur in the corresponding bulk materials. These phenomena arise from the interplay of quantum, finite-size interactions with surface and interface effects. In particular, magnetic nanoparticles serve as powerful building blocks that have led to many nanotechnology applications in fields such as ultrahigh-density magnetic recording, biomedicine (for example, guided drug delivery, and cancer treatment through hyperthermia or cell separation and purification), and magnetic resonance imaging (MRI). The key challenges are to understand how nanostructural features (such as topography, composition, crystallinity, and surface chemistry) influence the physical properties of the nanoparticles (magnetic, electronic, and so forth), and how this insight can be used to induce or improve their functionality in different applications. For example, a detailed knowledge of specific surface modifications of nanoparticles is relevant in their functionalization using biomolecular interactions, or in the manipulation of interfacial cross-coupling between magnetic and electric properties in nanocomposites that exhibit simultaneously two or more ferroic cooperative phenomena, such as ferromagnetism and ferroelectricity. Meeting such challenges calls for advanced particle growth methods and an adequate combination of characterization techniques with increased spatial and chemical resolution, as well as high sensitivity to magnetic and electronic properties.

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